Company number: 07002304
and approved by Laurence King
Average time taken to pay invoices: 31 days
Invoices paid:
Invoices due but not paid within agreed terms: 23%
7 days
105 days
Our policy is to comply with the payment terms of our suppliers. Where no terms are specified we apply 30 days. We currently operate a weekly payment run.
Answer not provided
N/A
105 days
Our longest standard payment terms of 105 days apply to one supplier and these terms are as required by them. Our next longest payment terms are 60 days.
Instead of using invoice receipt date (as this is not captured by our system) we have used invoice date as the basis for our calculations which will negatively impact on our statistics. This period will also have incurred the effects of Covid 19 which has caused disruptions to normal procedures and processing.
Invoices in dispute go on hold and we contact the supplier to resolve the issue. Once resolved the invoice will be paid on the next weekly payment run.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
No
No